boohoo sales up 100% in four months to 31 December

The online fashion retailers were expected to the winners over the crucial Christmas trading and boohoo proved the point doubling its sales in the four months to 31 December.

During the period the group, which also includes the Nasty Gal and PrettyLittleThing brands, achieved total group revenue up 100% to £228.2m.

The business performed strongly across all geographies. UK sales were up 107% to £135.7m while the Rest of Europe was up 102% to £28.2m. US sales were up 105% at £39.6m and the Rest of World was up 59% to £24.m.

On an individual brand basis, boohoo.com was up 25% to 142.6m against strong comparables, while PrettyLittleThing (acquired in December 2016) was up 191% at £73.8m. Nasty Gal, the US business whose IP and certain assets were acquired by boohoo at the start of last year achieved revenue of £11.9m, which it said had increased month-on-month from start-up in March 2017.

As a result of the strong quarter the business has increased its forecast revenue growth to 90%, from 80%, for the full financial year (the second time in the year it has upped the forecast), and it has narrowed guidance on EBITDA margins to between 9.25% and 9.75%.

Joint CEOs Mahmud Kamani and Carol Kane said that Black Friday had been its most successful trading period ever "and we traded well throughout the period under review. boohoo has continued to perform well, delivering strong revenue growth on increasingly challenging comparatives last year. PrettyLittleThing has continued to deliver exceptional results and Nasty Gal is making excellent progress in its first year. Our focus remains on the customer proposition: offering the best range of the latest fashion at affordable prices, coupled with great customer service."